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Gazprom plans to increase production by 8% in 2016

May 19, 15:15 UTC+3 MOSCOW
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MOSCOW, May 19. /TASS/. Russia’s gas giant Gazprom plans to increase gas production by 8% year-on-year in 2016 to 452 billion cubic meters, Vitaly Markelov, member of the company’s management board told a press conference.

"The plan for 2016 is - 452 billion cubic meters, the adjustment will depend on the domestic market demand for gas," he said.

The planned volume of gas production for 2015 was approved at the level of 485.36 billion cubic meters, but later it was revised to 414.1 bcm due to a decline in demand. The actual volume of production was 418.5 bcm, including 8.4 bcm of associated gas.

According to the Energy Ministry, in 2015, Gazprom reduced gas production by 6% year-on-year to 417.2 bcm.

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